Approximately three out of four Americans have at least one credit card, and on average Americans have nearly four credit cards. 1 In fact, collectively American cardholders have over 511.4 million credit cards. 2 That’s certainly a lot of a credit cards and indicates just how essential they’ve become.
But, the sheer quantity of credit cards doesn’t mean people have the right card for their lifestyle and spending—or a card that rewards them.
How do you select the right card for you?
Not all credit cards are created equal. With different rates, uses, perks, rewards, and services, it can seem intimidating to sort through your options to select the card that is ultimately right for you. One method for selecting the right card starts by considering your spending and then attempts to match those existing habits to possible benefits—the logic is pretty simple: the best rewards for you are those which accumulate automatically from your everyday life. How do you normally spend in a month? What do you plan on using the credit card for? Where do you make most of your purchases?
There are plenty of credit cards with fantastic rewards—but that doesn’t necessarily mean your spending habits line up. For example, let’s say a credit card offers amazing travel perks or points from purchases on hotels, flights, car rentals, and travel amenities—that’s only helpful for you if you frequently travel.
Flexible Reward Options from Vantage
For every $1 spent on purchases, our Vantage World Mastercard gives 1.5 reward points and our Platinum Rewards Mastercard gives 1.0 reward points. Those points are redeemable for everything from airfare, electronics, jewelry, to cash! Vantage even offers special incentives to help you access those rewards, including double reward points for all grocery and dining purchases through the end of 2020.
Don’t Forget About Benefits Beyond Rewards
One major rookie mistake to avoid: forgetting about your credit card benefits. It’s easy to let some things be on autopilot, but it’s a financially savvy move to make sure you’re taking advantage of all the benefits and perks available from your credit card.
- Mastercard Benefits: Your card comes with a number of exclusive Mastercard benefits. For example, our Vantage World credit card provides unlimited, free two-day shipping-and-returns at more than 140 online stores with ShopRunner ® —letting you experience the world from the comfort of your couch! Be sure to carefully read the Guide to Benefits for your Vantage World, Platinum Rewards, and Platinum Mastercard credit cards to find enhanced perks for each card!
- Safety & Security Benefits: Vantage Mastercard credit cards come with additional safety features to protect our members. Our cards are contactless which gives you the speed and convenience of faster transactions with tokenization and Zero Liability Protection built in. You can also enroll for free Mastercard ID Theft Protection.
- Global Power & Local Service: Your Vantage Mastercard comes with all the global power of Mastercard, in addition to the local service and excellence you’ve come to expect from Vantage. We’re here in your community and just on the other end of the phone line if you have any questions; contact us at 314.298.0055 or 800.522.6009.
Want to get rewarded for your purchases? Apply for a Vantage World or Platinum Rewards Mastercard today!
Do you have high interest credit card debt? Consider a no-fee balance transfer!
1 Source: CNBC Report, 9 April 2020.
2 Source: The Ascent Report 16 July 2020.